🚀 Understanding Bitcoin Cost for Long-Term Holders
#Bitcoin #LongTermHolders #LTH #LTHMVRV #LTHRP #CryptoInvestment #OnChainData #MarketAnalysis #BTC
According to BlockBeats, the concept of Long Term Holder (LTH) in Bitcoin investment is defined by Glassnode as holding BTC for more than 155 days. This article explores the profitability and cost metrics associated with LTHs, specifically focusing on LTH-MVRV and LTH-RP.
LTH-RP, or Realized Price for Long Term Holders, represents the average cost of BTC for these investors. It is calculated by dividing the LTH-Realized Cap by the circulating supply. Typically, the LTH-RP is lower than the market's average Realized Price, indicating that long-term holders generally acquire BTC at a lower cost.
LTH-MVRV is a metric that reflects the profitability of long-term holders. It is calculated similarly to MVRV, using the formula "current market value / LTH-Realized Cap" or "current market price / LTH-Realized Price." The fluctuations in LTH-MVRV are often more pronounced than those in MVRV, as long-term holders tend to achieve higher profits.
An interesting application of LTH-MVRV is in identifying potential buying opportunities. When LTH-MVRV is less than 1, it indicates that even long-term holders are experiencing losses, suggesting a possible market bottom and a good time to buy.
This article is part of a series aimed at educating readers on on-chain data analysis. For those interested in further exploring this topic, following the series is recommended.#Bitcoin #LongTermHolders #LTH #LTHMVRV #LTHRP #CryptoInvestment #OnChainData #MarketAnalysis #BTC
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🚀 Bitcoin Long-Term Holders Show Bullish Divergence, Analyst Reports
#Bitcoin #BTC #Crypto #LongTermHolders #LTH #BullishDivergence #RealizedPrice #MarketReset #HealthyReset #CryptoQuant #BlockBeats
According to BlockBeats, CryptoQuant analyst Axel Adler Jr shared insights on the X platform, noting that since March, the realized price for Bitcoin long-term holders (LTH) has been increasing at a faster rate than the spot price, indicating a healthy bullish divergence. The tokens purchased at high prices during the spring and summer are maturing and entering the LTH group, raising the cost basis for these holders. This process compresses profit multiples and reduces risk without a decline in price.
This development suggests that older, low-cost tokens are gradually being absorbed, while new, higher-cost tokens are being added, leading to a 'healthy reset' in the market. As short-term holders absorb the selling pressure from long-term holders, the market cycle is expected to extend, potentially providing further support for an upward price trend.#Bitcoin #BTC #Crypto #LongTermHolders #LTH #BullishDivergence #RealizedPrice #MarketReset #HealthyReset #CryptoQuant #BlockBeats
🚀 Long-Term Bitcoin Holders Reduce Holdings Despite Net Balance Changes
#Bitcoin #LongTermHolders #BTC #Glassnode #Crypto #Blockchain #LTH #BTCHoldings #NetPosition #ForesightNews #CoinMaturity
Recent data from glassnode reveals that long-term holders (LTH) have reduced their Bitcoin holdings by over 370,000 BTC in the past 30 days, despite net position changes indicating a decrease of only 144,000 BTC. According to Foresight News, the average daily expenditure by LTHs has exceeded 12,000 BTC.
glassnode explains that the net position change reflects the net balance rather than the total amount sold. This calculation involves subtracting the amount spent by LTHs from the amount of Bitcoin transitioning from short-term holders to long-term holders. Over the past month, approximately 226,000 BTC have matured from short-term to long-term holdings, resulting in a net supply decrease of only 144,000 BTC.
The organization notes that when the maturity of coin age is high, the net indicator may underestimate the actual scale of distribution by LTHs.#Bitcoin #LongTermHolders #BTC #Glassnode #Crypto #Blockchain #LTH #BTCHoldings #NetPosition #ForesightNews #CoinMaturity
🚀 CryptoQuant：比特币长期持有者供应量重回增长区间
#比特币 #长期持有者 #BTC供应量 #CryptoQuant #地缘局势 #宏观不确定性 #链上数据 #LTH #STH #UTXO #市场行为 #熊市 #价格改善
CryptoQuant 分析师 Darkfost 指出，尽管地缘局势与宏观不确定性仍令风险资产承压，但市场中“偏向持有”的行为正在回升。链上数据显示，长期持有者（LTH）持有的 BTC 供应量开始逐步增加，意味着当前进入 LTH 类别的 BTC 数量已超过 LTH 的卖出量。需要注意的是，该指标基于 UTXO 统计，并不一定代表 LTH 主动加仓，而是部分在约 6 个月前形成且未被花费的 UTXO 从短期持有者（STH）自然转入 LTH。
数据方面，该指标在 11 月底一度降至约 -67.4 万 BTC（30 日均值），目前已回到正值区间，平均约 +30.8 万 BTC 进入 LTH 供应。历史上，此类转向曾多次领先于价格改善，但报告也强调，熊市中也可能出现类似反转，仍需持续观察其延续性。
#比特币 #长期持有者 #BTC供应量 #CryptoQuant #地缘局势 #宏观不确定性 #链上数据 #LTH #STH #UTXO #市场行为 #熊市 #价格改善